Naslov
The impact of political election on exchange rate – the case of Croatia

Autori
Rukavina, Ivana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Theory and Applications in the Knowledge Economy (TAKE) / Tome, E. ; Neumann, G. ; Knežević, B. - Zagreb, 2017, 308-322

Skup
Theory and Applications in the Knowledge Economy TAKE 2017 – Zagreb, Croatia, 12 to 14 July 2017

Mjesto i datum
Zagreb, Hrvatska, 12-14.06.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
real exchange rate, political monetary cycles, Croatia

Sažetak
This empirical research is testing the impact of political election on exchange rate policy, i.e. appreciation/depreciation by regression model in Croatia. This research tried to find political monetary cycles in exchange rate Under Mundell Fleming limitation. The exchange rate is researched in line with theoretical overview which suggests that political authority in pre‐election times tries to make better economic conditions like increase economic growth or decrease unemployment in order to be reelected. Additionally, the connection between elections and exchange policy in pre‐election and postelection period is analysed in the theoretical part, as well as the reason for this kind of connectivity. The exchange rate policy in Croatia and the economic fundament which determined the exchange rate is analysed too. Empirical research is based on example of Croatia from 2000 until 2016 on quarterly data. The results of the empirical research reject the hypothesis that is set regarding the election cycles influence on the fluctuations of real exchange rate. In Croatia under the limitations of central bank independency, menaged floating exchange rate and the endogenity of political election date political business cycles of real exchange rate have not been found.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA